5.6 Data fields related to lifecycle information
This section includes the following fields:
|Field No.||Field name||Non-standard contract|
M = mandatory; O = optional; - = does not apply; * = conditionally required
Data Field (45) Action type
When the report contains:
|Description of Accepted Values||Type||Length||Examples|
This field identifies the type of action regarding the event that is being reported.
The first submission of a transaction to the Agency of a non-standard contract is an event which will be identified as “new”. Any modification of this report has to be notified to the Agency and reported as “modify”. An example of a report modification is when two parties agree to amend one or more terms of the original agreement (e.g. price, quantity or any other value previously reported). Please note that the modification of the identification code of one of the counterparty is not considered a modification, rather shall be reported as a novation. For further information on novation, please refer to Annex VII to the TRUM.
When an invalidation of a wrongly submitted report is needed, a report shall be submitted to the Agency with the Action type value “error”.
At any time during the term of a contract, the parties may agree or be forced to terminate the contract (i.e. they end the contract earlier than its natural maturity date). This cancelation, i.e. early termination of an existing contract, should be reported as the record with Action type “cancel”.